IndusInd Bank Plunges Over 5% – Hits Six-Month Low Amid Market Weakness!

IndusInd Bank’s share price has dropped 5% to ₹1,008.4, underperforming the BSE BANKEX index, which is down 0.7%. Over the past year, the stock has fallen 31.2%, while the BSE BANKEX has gained 3.9%. The broader market is also weak, with the BSE Sensex down 0.9% and NSE Nifty down 1.0%. IndusInd Bank’s Q3 FY24 net profit declined 39.1% YoY, though annual profit rose 20.6%. The stock is trading below key support levels and its 20-day SMA and EMA. As of 11:19 AM IST, it was at ₹992.25 with a market cap of ₹77,172.86 crore. The stock has lost 33.46% over six months but gained 12.98% last month. High volatility and selling pressure continue in today’s session.

IndusInd Bank Plunges Over 5% – Hits Six-Month Low Amid Market Weakness!

IndusInd Bank’s share price has dropped by 5%, currently trading at ₹1,008.4, while the BSE BANKEX index is also down by 0.7% at 54,977.9. Among the biggest losers in the banking index today are Bank of Baroda, which has declined by 1.6%, and IDFC First Bank, which has fallen by 1.5%. Over the past year, IndusInd Bank’s stock has dropped significantly from ₹1,466.8 to ₹1,008.4, marking a steep 31.2% decline. In contrast, the BSE BANKEX index has gained 3.9%, rising from 52,913.8 to 54,977.9. Leading the gains in the index during this period are HDFC Bank, up by 19.1%, Federal Bank, which has gained 16.1%, and ICICI Bank, rising by 15.4%.

The broader market has also faced downward pressure, with the BSE Sensex currently standing at 73,947.0, reflecting a 0.9% decline. Mahindra & Mahindra and NTPC are among the biggest losers, falling by 2.5% and 2.2%, respectively, while actively traded stocks include Tata Steel and Zomato. Similarly, the NSE Nifty has dropped by 1.0% to 22,322.1, with Mahindra & Mahindra and Tech Mahindra leading the declines. Over the past year, the BSE Sensex has risen by 1.6%, climbing from 72,790.1 to its current level.

In terms of financial performance, IndusInd Bank’s net profit for the quarter ending December 2024 fell sharply by 39.1% year-on-year to ₹14,024 million, compared to ₹23,014 million in the same period last year. However, net sales showed a positive trend, increasing by 10.6% from ₹115,723 million in Q3 FY24 to ₹128,008 million. For the full financial year ending March 2024, the bank reported a 20.6% rise in net profit, reaching ₹89,773 million, up from ₹74,435 million in FY23. Revenue also saw strong growth, rising by 25.8% to ₹457,482 million. IndusInd Bank’s current price-to-earnings (P/E) ratio, based on rolling 12-month earnings, stands at 10.8.

On February 28, 2025, IndusInd Bank’s last traded price was ₹992.25, with a market capitalization of ₹77,172.86 crore and a trading volume of 4,226,776 shares. The stock has a P/E ratio of 10.64 and an earnings per share (EPS) of ₹93.11. Throughout the day, the stock has shown continued weakness, with the price fluctuating between ₹998.15 and ₹992.95, reflecting a decline of over 5%. Over the past six months, IndusInd Bank has posted a negative return of -33.46%, indicating sustained selling pressure.

From a technical perspective, IndusInd Bank has broken below key support levels. At 11:18 AM, the stock was trading at ₹992.95, down 5.14% for the day. Earlier, at 10:48 AM, it was priced at ₹997.3, marking a 4.72% decline, with a weekly return of -3.94%. At 9:53 AM, the stock was at ₹1,004.55, down 4.03%, while the 3-day Simple Moving Average (SMA) stood at ₹1,025.63. The stock closed at ₹1,046.7 the previous day, reflecting a 5% decline, and has since breached its third support level (S3), currently trading below ₹1,005.03. Additionally, IndusInd Bank is now trading below both its 20-day Simple Moving Average (SMA) and Exponential Moving Average (EMA), signaling further weakness.

Despite recent declines, IndusInd Bank had shown positive performance in previous months, delivering a 12.98% return over the past month and a 4.47% return over the last three months. The stock had closed at ₹1,034.25 in the previous trading session, registering a marginal 1.2% gain. However, with the recent downturn, the bank’s stock has experienced increased volatility and remains under selling pressure in today’s market.